Casey’s General Stores, Inc. (NASDAQ:CASY) Declares Quarterly Dividend of $0.38

Casey’s General Stores, Inc. (NASDAQ:CASYGet Rating) announced a quarterly dividend on Tuesday, June 7th, Zacks reports. Investors of record on Monday, August 1st will be given a dividend of 0.38 per share on Monday, August 15th. This represents a $1.52 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, July 29th. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.35.

Casey’s General Stores has increased its dividend payment by an average of 6.9% annually over the last three years and has raised its dividend annually for the last 23 consecutive years. Casey’s General Stores has a payout ratio of 14.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Casey’s General Stores to earn $9.80 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 14.3%.

CASY stock opened at $197.93 on Thursday. Casey’s General Stores has a twelve month low of $170.82 and a twelve month high of $216.40. The company has a market cap of $7.35 billion, a PE ratio of 21.77 and a beta of 0.77. The business’s 50-day simple moving average is $205.52 and its 200 day simple moving average is $195.41. The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.81.

Casey’s General Stores (NASDAQ:CASYGet Rating) last released its earnings results on Tuesday, June 7th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.12. Casey’s General Stores had a return on equity of 16.08% and a net margin of 2.62%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the business earned $1.12 earnings per share. The firm’s revenue for the quarter was up 45.4% compared to the same quarter last year. On average, equities research analysts anticipate that Casey’s General Stores will post 9.07 EPS for the current year.

Several large investors have recently bought and sold shares of CASY. BlackRock Inc. increased its holdings in shares of Casey’s General Stores by 1.9% in the fourth quarter. BlackRock Inc. now owns 3,072,973 shares of the company’s stock valued at $606,451,000 after purchasing an additional 57,917 shares in the last quarter. State Street Corp increased its holdings in shares of Casey’s General Stores by 4.6% in the first quarter. State Street Corp now owns 1,421,540 shares of the company’s stock valued at $281,707,000 after purchasing an additional 61,866 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Casey’s General Stores by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 501,590 shares of the company’s stock valued at $99,403,000 after purchasing an additional 33,872 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Casey’s General Stores by 152.8% in the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock valued at $76,153,000 after purchasing an additional 232,277 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Casey’s General Stores by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 328,880 shares of the company’s stock valued at $65,175,000 after purchasing an additional 12,969 shares in the last quarter. Institutional investors own 84.44% of the company’s stock.

A number of research analysts have commented on CASY shares. Royal Bank of Canada cut their price target on shares of Casey’s General Stores from $250.00 to $238.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $257.00 to $259.00 and gave the stock a “buy” rating in a research note on Thursday, March 10th. Wells Fargo & Company started coverage on shares of Casey’s General Stores in a research note on Wednesday, May 25th. They set an “overweight” rating and a $240.00 price target for the company. Finally, StockNews.com started coverage on shares of Casey’s General Stores in a research note on Thursday, March 31st. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Casey’s General Stores has a consensus rating of “Buy” and an average price target of $232.00.

Casey’s General Stores Company Profile (Get Rating)

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.

Further Reading

Dividend History for Casey's General Stores (NASDAQ:CASY)

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